Stock Futures Slightly Unchanged Ahead of Key August CPI Report
On Thursday night, stock futures showed minimal movement ahead of the release of the key consumer price index (CPI) report for August. While S&P 500 and Nasdaq 100 futures edged slightly higher, Dow Jones Industrial Average-linked futures dipped by just 11 points. During regular trading hours earlier in the day, all three major U.S. stock indices fell sharply — marking their fourth consecutive losing session. The market was weighed down by rising oil prices, with West Texas Intermediate crude hitting over $100 per barrel for the first time since May due to ongoing tensions between the U.S. and Iran. Treasury yields also surged, with 10-year note yields reaching a high of nearly 4.95%, their highest level in almost two years. Investors are closely watching Friday's CPI report, which will influence the Federal Reserve’s decision on whether to raise interest rates at its September meeting. A reading close to expectations could ease pressure for an immediate rate hike, while hotter-than-expected inflation may prompt action.
Topics: inflation data interest rates oil prices stock market